SEBI debars Ketan Parekh, entities for 14 years
Wednesday, December 17 2003 15:09 Hrs (IST)
Mumbai: The Securities and Exchange Board of India (SEBI) has debarred Ketan Parekh along with
Kartik K Parekh and seven of his entities from associating with the securities market for 14 years in
connection with their involvement in the 2001 stock market scam.
Both Ketan and Kartik along with their entities -- Classic Credit, Panther Fincap and Management
Services, Luminant Investments, Chitrakut Computers, Saimangal Investrade, Classic Infin and Panther
Investrade -- have been prohibited from dealing in securities in any manner with immediate effect, SEBI
said in a release in Mumbai today (Dec 17, 2003).
The action has been taken based on the findings of the investigations conducted in the wake of
excessive volatility in the stock markets during mid-February and mid-March 2001, the release said.
The order was passed on December 12 after giving them a hearing by the chairman and it does not
preclude action against these individuals and entities in the future.
PTI
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